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2017 Word of the Year

closing costs

plural noun, Real Estate.
1.
fees charged to a purchaser by a bank, lawyer, etc. for services related to a sale, as title search, appraisal, etc.
2.
any expenses over the purchase price of a house, land, etc., that is paid by the purchaser or seller at the completion of the sale.
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Based on the Random House Dictionary, © Random House, Inc. 2017.
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